Fusion Global Payroll (US): 401K Employer Match Ceiling And Employer Contribution Limit Not Working
(Doc ID 2536989.1)
Last updated on AUGUST 24, 2023
Applies to:Oracle Fusion Global Payroll Cloud Service - Version 11.13.19.01.0 and later
Information in this document applies to any platform.
On : 11.13.19.01.0 version, US - United States Legislation
401K Employer Match ceiling and Employer Contribution Limit not working
We have EE 401k and 401k Employer match. We put Employer contribution limit percentage to 4%. Eligible Compensation Limit set to 288000 at Element Calculation Factor level.
So we expected max contribution would be 4% of 288000 which is 11520 USD. But it is taking 30000 USD. Here I attached the element configuration screen shots and element entries at Employee level.
Can you please help us to calculate the Employer match as expected ?
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